Mankind Pharma IPO: After the subscription closes for three days on April 27, 2023, investors and market observers are eagerly waiting for the Mankind Pharma IPO allotment date, which is most likely to happen on May 3, 2023. As per the Mankind Pharma IPO subscription status, the public offering has received an overwhelming response. investors from the QIB segment but it failed to get fully subscribed in the retail segment. However, the gray market is unaffected by these developments as the secondary market is in a bull trend for the last six sessions.
According to market observers, Mankind Pharma Ltd shares are available at a premium 85 in the gray market today.
Mankind Pharma’s IPO GMP today
Market observers said that despite Mankind Pharma IPO failing to get 100 per cent subscription in the retail portion, a strong secondary market mood has boosted gray market morale. Mankind Pharma’s IPO gray market premium (GMP) is today 85, which is Its Friday is 25 more than GMP 60. He said that a rally in Mankind Pharma IPO GMP can be expected when the market opens on Monday as the secondary market is in extremely bullish mode as all three major benchmark indices – Nifty, Sensex and Bank Nifty – have recovered from their recent swings. Has broken higher levels and is expected to lift the morale of the unlisted equity market as well.
What does this GMP mean?
Market observers continued to add that Mankind Pharma IPO GMP today is 85, which means the gray market is expecting the Mankind Pharma IPO listing price to be around 1145 ( 1080+ 85), which is about 8 per cent higher than the IPO price band of Mankind Pharma from 10286 1080 per equity share.
Market observers said that the gray market is indicating that Mankind Pharma shares may make a positive start on the listing date, which is most likely to be May 8, 2023.
However, stock market experts say that GMP is not an ideal indicator of success or failure of a public offering. One should stick to the basics and scan the financial position of the company as it gives solid fundamental picture which is long lasting.
public issue worth 4,326.36 crore was subscribed 15.32 times while its QIB portion was subscribed 49.16 times. However, the public issue failed to get fully subscribed in the retail segment as it got only 92 per cent subscription of its total offer.
Mankind Pharma IPO Details
after closing Mankind Pharma IPO SubscriptionThe focus is on Mankind Pharma IPO allotment date, which is expected to be on May 3, 2023. Mankind Pharma IPO listing is proposed on both NSE and BSE and Mankind Pharma IPO listing date is expected to be on 8th May 2023.
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